Community Chat

[Icegoddess]

@Nightowlz Absolutely look into Transfer on Death or TOD.  I changed all my investment accounts to that after that experience.  Some of it would go to my husband if he survives and the rest to my daughter.  

The reason I didn't have to freeze the checking account was only because my name was on the account.  And there's a difference if the account is AND vs OR.  Otherwise, it's considered part of the estate and the funds are frozen until the Will is probated.  It's there in case someone shows up making a claim.  It was convenient to have the few bills like electric/gas come directly out of it, but if the name had just been him, we would've had to pay those bills out of our own pockets until probate had finished.  

We still have a strip of land up in TN we can't seem to get rid of because our Aunt left it to several people and one of those people has died but the kids didn't transfer title to them.  It's a mess.  One of the owners just transferred his ownership over to the one relative that cares for the property.  

[Nightowlz]

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@Icegoddess wrote:

@Nightowlz Absolutely look into Transfer on Death or TOD.  I changed all my investment accounts to that after that experience.  Some of it would go to my husband if he survives and the rest to my daughter.  

The reason I didn't have to freeze the checking account was only because my name was on the account.  And there's a difference if the account is AND vs OR.  Otherwise, it's considered part of the estate and the funds are frozen until the Will is probated.  It's there in case someone shows up making a claim.  It was convenient to have the few bills like electric/gas come directly out of it, but if the name had just been him, we would've had to pay those bills out of our own pockets until probate had finished.  

We still have a strip of land up in TN we can't seem to get rid of because our Aunt left it to several people and one of those people has died but the kids didn't transfer title to them.  It's a mess.  One of the owners just transferred his ownership over to the one relative that cares for the property.  

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@Icegoddess 

If DH doesn't set something up for his mom he will have to go through probate. There's no need. All she will have is proceeds to her house. They will divide it 4 ways. 

DH is on her checking account. I don't doubt the bank she banks with will freeze her account. When she took DH to the bank to add him to her account they acted like he would be stealing her money? They can do what they want. We will make sure her bills get paid. 

My dad paid for graves, markers, some other funeral expenses before he passed. His deceased step sons daughter kept making a big deal about the grave. She wanted her share of how much it was worth. She said he left it for her dad not our brother? The marker had my brother's name on it. They both had the same first name. Everyone knew exactly who it was for? It was originally for his second wife which didn't want to be buried with mom & dad. Good. Dad gave it to one of my brothers my failed to update the paperwork on it. 

We lucked out when the funeral place was sold & under new ownership. My sister called to tell them she was faxing over paperwork on my brothers site which she need them to sign off on. She didn't get into what was going on. They could see what was on the marker. They signed off on whatever my sister sent them. My brother passed & is there now. Glad we don't have to deal with non family members anymore. 

Hope you get your dilemma figured out. 

[Icegoddess]

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@Nightowlz wrote:

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@Icegoddess wrote:

@Nightowlz Absolutely look into Transfer on Death or TOD.  I changed all my investment accounts to that after that experience.  Some of it would go to my husband if he survives and the rest to my daughter.  

The reason I didn't have to freeze the checking account was only because my name was on the account.  And there's a difference if the account is AND vs OR.  Otherwise, it's considered part of the estate and the funds are frozen until the Will is probated.  It's there in case someone shows up making a claim.  It was convenient to have the few bills like electric/gas come directly out of it, but if the name had just been him, we would've had to pay those bills out of our own pockets until probate had finished.  

We still have a strip of land up in TN we can't seem to get rid of because our Aunt left it to several people and one of those people has died but the kids didn't transfer title to them.  It's a mess.  One of the owners just transferred his ownership over to the one relative that cares for the property.  

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@Icegoddess 

If DH doesn't set something up for his mom he will have to go through probate. There's no need. All she will have is proceeds to her house. They will divide it 4 ways. 

DH is on her checking account. I don't doubt the bank she banks with will freeze her account. When she took DH to the bank to add him to her account they acted like he would be stealing her money? They can do what they want. We will make sure her bills get paid. 

My dad paid for graves, markers, some other funeral expenses before he passed. His deceased step sons daughter kept making a big deal about the grave. She wanted her share of how much it was worth. She said he left it for her dad not our brother? The marker had my brother's name on it. They both had the same first name. Everyone knew exactly who it was for? It was originally for his second wife which didn't want to be buried with mom & dad. Good. Dad gave it to one of my brothers my failed to update the paperwork on it. 

We lucked out when the funeral place was sold & under new ownership. My sister called to tell them she was faxing over paperwork on my brothers site which she need them to sign off on. She didn't get into what was going on. They could see what was on the marker. They signed off on whatever my sister sent them. My brother passed & is there now. Glad we don't have to deal with non family members anymore. 

Hope you get your dilemma figured out. 

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@Nightowlz Something to check into, in the state that my Father died in, we would not be able to sell the house for a certain number of years if we didn't go through probate.  I can't remember if it was 2 or 5 years.  At the time, it wasn't a big deal since we thought it might take that long to clean it out and get it ready to sell since both of us live about 2 hours away and could only meet occasionally.  However, since we ended up having to go through probate, we were able to sell it earlier and did.  

[Nightowlz]

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@Icegoddess wrote:

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@Nightowlz wrote:

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@Icegoddess wrote:

@Nightowlz Absolutely look into Transfer on Death or TOD.  I changed all my investment accounts to that after that experience.  Some of it would go to my husband if he survives and the rest to my daughter.  

The reason I didn't have to freeze the checking account was only because my name was on the account.  And there's a difference if the account is AND vs OR.  Otherwise, it's considered part of the estate and the funds are frozen until the Will is probated.  It's there in case someone shows up making a claim.  It was convenient to have the few bills like electric/gas come directly out of it, but if the name had just been him, we would've had to pay those bills out of our own pockets until probate had finished.  

We still have a strip of land up in TN we can't seem to get rid of because our Aunt left it to several people and one of those people has died but the kids didn't transfer title to them.  It's a mess.  One of the owners just transferred his ownership over to the one relative that cares for the property.  

---

@Icegoddess 

If DH doesn't set something up for his mom he will have to go through probate. There's no need. All she will have is proceeds to her house. They will divide it 4 ways. 

DH is on her checking account. I don't doubt the bank she banks with will freeze her account. When she took DH to the bank to add him to her account they acted like he would be stealing her money? They can do what they want. We will make sure her bills get paid. 

My dad paid for graves, markers, some other funeral expenses before he passed. His deceased step sons daughter kept making a big deal about the grave. She wanted her share of how much it was worth. She said he left it for her dad not our brother? The marker had my brother's name on it. They both had the same first name. Everyone knew exactly who it was for? It was originally for his second wife which didn't want to be buried with mom & dad. Good. Dad gave it to one of my brothers my failed to update the paperwork on it. 

We lucked out when the funeral place was sold & under new ownership. My sister called to tell them she was faxing over paperwork on my brothers site which she need them to sign off on. She didn't get into what was going on. They could see what was on the marker. They signed off on whatever my sister sent them. My brother passed & is there now. Glad we don't have to deal with non family members anymore. 

Hope you get your dilemma figured out. 

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@Nightowlz Something to check into, in the state that my Father died in, we would not be able to sell the house for a certain number of years if we didn't go through probate.  I can't remember if it was 2 or 5 years.  At the time, it wasn't a big deal since we thought it might take that long to clean it out and get it ready to sell since both of us live about 2 hours away and could only meet occasionally.  However, since we ended up having to go through probate, we were able to sell it earlier and did.  

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@Icegoddess 

Never thought you would have to wait 2-5 yrs to sell the  house? Dad's house sold in less than 6 months.

Hopefully my MIL's house will sell fast since we have to deal with it. She's having a new roof installed since she had hail & insurance is paying for it. If the buyers ask for anything else she said no. She doesn't have the money to do anything to the house. I told DH she could give them some off price of house she just can't pay for anything before that happens. 

At least she finally bought some hearing aids so DH can actually have a discussion with her. Hard to take care of things for her when she couldn't hear. She didn't want hearing aids before but since it has gotten worse she didn't like being left out of coversations since she didn't know what anyone was saying.